Property Overview: 118 Tudor Crescent, Winnipeg

Section 1: Key Characteristics & Appeal

This home on Tudor Crescent in Munroe East presents a distinct profile defined by its vintage charm and above-average space. Built in 1925, it is notably older than most homes in its immediate area and across Winnipeg, which suggests potential for classic architectural character but also warrants a close look at maintenance and updates. Its primary appeal lies in its generous proportions: at 1,147 sqft, the living area is larger than most comparable homes in both the neighbourhood and on its own street. It sits on a 5,825 sqft lot, which is substantially larger than the average for Munroe East, offering valuable outdoor space.

The home’s assessed value is positioned below average for Tudor Crescent but is more aligned with broader area and city averages. This combination—a larger, older home on a sizable lot with a moderate assessment—creates a specific opportunity. It would suit a buyer who values space and lot size over modern construction, possibly a handy homeowner comfortable with the upkeep of a century-old property or an investor looking at the underlying value of the land. Its appeal is pragmatic, offering more room both inside and out than many neighbouring properties, balanced against the considerations that come with its age.

Section 2: Frequently Asked Questions

1. What does the "below average" ranking for Year Built practically mean?
It means this home, built in 1925, is among the oldest in its comparison groups. Buyers should prioritize a thorough inspection to understand the condition of major aging components like the foundation, plumbing, wiring, and roof.

2. The living area is "above average," but the assessed value is "below average" on this street. Why?
This discrepancy often reflects the home’s older age and potentially outdated condition or finishes compared to newer or renovated homes on the street. The assessment may highlight the value of the structure itself versus the combined value of the land and building.

3. How significant is the lot size?
At 5,825 sqft, the lot is over 17% larger than the Munroe East average. This is a key feature, providing more privacy, yard space, and future potential than many properties in the area, which can be a major advantage.

4. The home sold between $250k-$300k in 2020. Is the assessed value a good indicator of market value?
No, the assessed value (30.60k) is for municipal tax purposes and is not a market appraisal. Market value is determined by recent sales of similar properties, buyer demand, and the home's current condition. The 2020 sale price is a historical data point, but the market has likely changed since then.

5. What should I research about the Munroe East neighbourhood?
Prospective buyers should look into area amenities, traffic patterns on Tudor Crescent, future development plans, and typical property taxes. Understanding the character of the street and whether other homes are being updated can provide context for this property's value and potential.